By continuing to use this site you consent to the use of cookies on your device as described in our
Cookie Policy unless you have disabled them. You can change your Cookie Settings at any time but parts of our site will not function correctly without them.

The entities had submitted applications to settle the proceedings, following which the settlement terms proposed by them were placed before the regulator's High Powered Advisory Committee, as per three separate Sebi orders.

The committee recommended the settlement of the proceedings on payment of Rs 12.25 lakh by BF Utilities, Rs 6.80 lakh by Shree Vatsaa Finance and Leasing and Rs 2 lakh by 3D PLM Software Solutions. The recommendations were also approved by the panel of whole time members of Sebi.

Last week, the entities paid the settlement amount following which Sebi disposed of the adjudication proceedings initiated against them.

However, in its orders, Sebi said if any representation made by the entities in the settlement proceedings is subsequently found to be untrue, enforcement actions would be initiated against them.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)